Zypp Electric raises $15 million from Japanese firm ENEOS
ECONOMY & POLICY

Zypp Electric raises $15 million from Japanese firm ENEOS

Platform for EVs as services, Zypp Electric announced that Japanese company ENEOS had contributed $15 million to the company. As part of its continuing $50 million round, which consists of $40 million in equity and $10 million in debt, Series C fundraising includes a $15 million equity closing.

Akash Gupta, co-founder and CEO of Zypp Electric, stated that the new investment would assist Zypp in the last-mile delivery space by providing sustainable EV solutions. He expressed the company's eagerness to expand its fleet and enhance its tech platform, aiming for significant growth across India. Gupta mentioned that the funds would be allocated towards propelling the company towards the path of growth, including achieving earnings before interest, taxes, depreciation, and amortisation (EBITDA) profitability.

Additionally, Zypp Electric announced its entry into the three-wheeler cargo business. It stated its intention to soon surpass 1,000 electric L5 loaders in its EV fleet, emphasising its readiness to address a broader range of business requirements while maximising revenue streams, among other objectives.

Platform for EVs as services, Zypp Electric announced that Japanese company ENEOS had contributed $15 million to the company. As part of its continuing $50 million round, which consists of $40 million in equity and $10 million in debt, Series C fundraising includes a $15 million equity closing. Akash Gupta, co-founder and CEO of Zypp Electric, stated that the new investment would assist Zypp in the last-mile delivery space by providing sustainable EV solutions. He expressed the company's eagerness to expand its fleet and enhance its tech platform, aiming for significant growth across India. Gupta mentioned that the funds would be allocated towards propelling the company towards the path of growth, including achieving earnings before interest, taxes, depreciation, and amortisation (EBITDA) profitability. Additionally, Zypp Electric announced its entry into the three-wheeler cargo business. It stated its intention to soon surpass 1,000 electric L5 loaders in its EV fleet, emphasising its readiness to address a broader range of business requirements while maximising revenue streams, among other objectives.

Next Story
Infrastructure Energy

TKIL, KIS Partner to Boost Biogas in Clean Energy Push

In a strategic move to diversify its operations and support India’s clean energy goals, TKIL Industries (formerly thyssenkrupp Industries India) has entered the bio-chemicals sector through a new partnership with KIS Group, a global leader in sustainable biofuel technologies. The collaboration focuses on boosting Compressed Biogas (CBG) production using advanced technology and localized biomass resources. This association marks a significant step for TKIL Industries as it expands into the renewable energy space. By leveraging KIS Group’s expertise and proprietary technologies, the company..

Next Story
Real Estate

Noida & Jewar Set for Sharp Rise in Property Costs

Noida and Jewar may oversee significant price hikes for properties. This is due to a recent proposal from Gautam Buddha Nagar which outlines plans to increase circle rates, the minimum price at which a real estate property can be sold to a buyer as determined by the government, in both cities. This increase in circle rates would lead to an increase in the stamp duties a homebuyer would have to pay. Under the proposal, high-rise apartments in Noida may see a 20 per cent increase, while Greater Noida is set for a 30 per cent hike. The most substantial rise is expected in agricultural land pric..

Next Story
Infrastructure Urban

KPIL Bags Rs 6.21 Bn Orders Across Railways and Infra

Kalpataru Projects International Limited (KPIL) has announced the acquisition of new orders worth approximately Rs 6.21 billion across its Buildings & Factories (B&F) and Railway businesses in India. This development comes as a significant addition to the company's growing list of orders, underlining its strong presence in India’s infrastructure sector. Speaking on the milestone, Manish Mohnot, Managing Director & CEO of KPIL, expressed optimism about the company’s continued momentum. “We are delighted with the order wins in our B&F and Railways business. These wins will help us further..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?